Many people want to live in close proximity to their family. There are good reasons for this (you have a support network).
I want to move back closer to my family as they are getting older. I would like to move back so I can spend more time with my father as he is retiring this year. To afford a flat in Dorset it is 30,000 deposit. A deposits on a house would be about somewhere between £30,000-£100,000.
These aren't mansions BTW. These are normal 2-3 bed houses.
> But half of people earn less than the mean salar though. So what about those on minimum wage? Well, one person with a full time minimum wage job should be able to get a mortgage for close to £100k, so wouldn't be able to afford a £150k house on their own. They could scrape by and get a house close to £100k though. There are plenty of these. Again, two people on minimum wage should have no problem.
My two bed flat (that I got cheap) is £110,000 and I am in the North-West. I've not seen any houses up here that were worth buying less than £200,000.
You typically need a 15% deposit on a flat. I managed to go with some rando building society and get 10%.
Any houses that are £150,000 are always in horrible parts of town or they are complete dumps and need complete renovation.
If you are on a minimum wage (I spent 8 years on it) it is difficult to save money and when something like the boiler goes you are screwed.
I want to move back closer to my family as they are getting older. I would like to move back so I can spend more time with my father as he is retiring this year. To afford a flat in Dorset it is 30,000 deposit. A deposits on a house would be about somewhere between £30,000-£100,000.
These aren't mansions BTW. These are normal 2-3 bed houses.
> But half of people earn less than the mean salar though. So what about those on minimum wage? Well, one person with a full time minimum wage job should be able to get a mortgage for close to £100k, so wouldn't be able to afford a £150k house on their own. They could scrape by and get a house close to £100k though. There are plenty of these. Again, two people on minimum wage should have no problem.
My two bed flat (that I got cheap) is £110,000 and I am in the North-West. I've not seen any houses up here that were worth buying less than £200,000.
You typically need a 15% deposit on a flat. I managed to go with some rando building society and get 10%.
Any houses that are £150,000 are always in horrible parts of town or they are complete dumps and need complete renovation.
If you are on a minimum wage (I spent 8 years on it) it is difficult to save money and when something like the boiler goes you are screwed.